Rebag, the digitally native luxury resale business, unveils its seventh and largest brick-and-mortar location to date in the Miami Design District on June 13. Founder and chief executive officer Charles Gorra called the 2,800-square-foot flagship the company’s most iconic store.
“It’s double the size of our others and shows the massive bet and commitment we’re making,” said Gorra, who hosts the grand opening party with local resident Larsa Pippen on the same day. “We’ll see how it goes and ideally build a portfolio.”
Tapping into the city’s resort lifestyle, the minimal layout with light woods incorporates a unique lounge area purely for entertainment’s sake. Gorra said the city has been on his personal leisure radar for a while and he wanted to instill that sense of relaxation.
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“The space is meant for shopping, but people can come in and hang out, too,” he said.
The company looks for areas with strong online sales to expand its retail footprint. Though Miami is its first store outside Manhattan and Los Angeles County, it’s already a top online producer and neck and neck in online sales with Texas according to Gorra. Online sales data shows its seasonality and customers’ willingness to take fashion risks. Whereas New York shoppers gravitate toward neutrals, more adventurous colors like pinks, greens, and yellows do well here. Abundant sunshine and the ocean impact style preferences.
“It’s similar to L.A., but a touch beyond, said Gorra, who sees an uptick in purchases when major events come to town. “They’re looking for things they can wear to the beach, Art Basel and music events.”
Miami is famous for designer vintage and consignment shops, but Gorra doesn’t feel the competition will be an issue. His business model differs through its one-hour-or-less assessment of resale items including handbags and small leather goods with the option to receive a cash payment or reinvest in another bag. Rebag Infinity streamlines the process by guaranteeing 70 percent refunds for trade-ins on previous purchases as long as it’s within six months.
Miami features the brand’s signature Hermès Birkin wall and other investment labels such as Chanel, Gucci and Louis Vuitton. There’s also a small selection for men. Gorra said the entry price point is $300, and financing is available for $50 per month.
“It’s definitely a luxury store, but we can work with budgets.”